Sealed Air (NYSE:SEE) Shares Gap Up After Better-Than-Expected Earnings

Shares of Sealed Air Co. (NYSE:SEE - Get Free Report) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.53, but opened at $29.05. Sealed Air shares last traded at $28.34, with a volume of 273,306 shares traded.

The industrial products company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the business posted $0.78 EPS. Sealed Air's quarterly revenue was down 4.4% compared to the same quarter last year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. Sealed Air's dividend payout ratio (DPR) is 44.20%.

Analyst Ratings Changes

SEE has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target on the stock in a research report on Monday, April 7th. Mizuho reduced their price objective on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group set a $36.00 target price on Sealed Air in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Insider Transactions at Sealed Air

In other news, Director Henry R. Keizer bought 1,120 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, with a total value of $33,600.00. Following the completion of the purchase, the director now directly owns 35,000 shares of the company's stock, valued at $1,050,000. This represents a 3.31 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Sealed Air

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System lifted its stake in Sealed Air by 0.8% during the fourth quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock valued at $1,430,000 after purchasing an additional 348 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of Sealed Air by 0.8% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company's stock valued at $1,470,000 after acquiring an additional 350 shares during the last quarter. Choreo LLC lifted its position in shares of Sealed Air by 3.7% during the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock valued at $331,000 after acquiring an additional 351 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Sealed Air by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company's stock worth $306,000 after acquiring an additional 375 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Sealed Air by 3.3% in the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company's stock worth $399,000 after acquiring an additional 377 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Down 0.5 %

The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 11.25 and a beta of 1.35. The business has a 50-day moving average price of $28.19 and a 200-day moving average price of $32.57.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.